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China Pledges $43 Billion to IMF Amidst Controversy For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ on.fb.me At the G-20 summit in Mexico this week, China pledged to donate more than 40 billion dollars to the International Monetary Fund. But critics say the amount that China gave was too much for a developing economy and may have ulterior motives behind the scenes. At the G20 in Los Cabos, Mexico, China pledged $43 billion to the International Monetary Fund. Expert comments that while the Chinese are suffering from high inflation and over one hundred million of them are living in poverty, China should not have promised more than four times the funds agreed by Brazil, India and Russia. Nations from around the world pledged a total of $456 billion to the International Monetary Fund (IMF). China's pledge ranks third, second only to Japan and Germany. It accounts for nearly half of the total contribution pledged by emerging markets, India, Russia and Brazil committed US$ 10 billion each, and South Africa $2 billion. The big amount gives China greater voting power in the IMF. Professor Frank Xie from the University of South Carolina Aiken's School of Business says there is no need for China to put in so much money. [Professor Frank Xie, Univ. of South Carolina]: "As part of the Foreign Exchange Reserves, in fact, this amount could lead to huge inflation in China. Particularly when the Chinese are still suffering from a high degree of inflation, the government assisting ... From: NTDTV Views: 150 1 ratings Time: 02:32 More in News & Politics